Good morning:.
Markets are relatively tame this morning following an inflation report that seems to be giving a divided Fed another reason to pause at the next meeting … although the next move … whenever that may be … still appears to favor an increase.
What could sharply drive stocks … after the “close” today … will be the earnings report of Nvidia … as AI-related items continue to dominate financial news.
I didn’t want to just sit around and nervously await tonight’s report, so I went over to FactSet to get a view on what highly paid analysts are thinking … and saw a bit more than 50 “recommendations” related to the stock with only one being a “sell” … three suggesting clients “hold” … and the rest … a large number … each saying “buy.” Obviously, many will be on pins and needles tonight just after 4 PM as the earnings (and, importantly, management comments) come in.
Meta … um, Facebook … is in the news as the company “settled” a lawsuit that claimed the company intentionally designed Facebook and Instagram to be addictive to children. The amount of the settlement? Somewhere around $17 billion dollars, according to Bloomberg.
That’s a lot of money. I got on the scale this morning and am left pondering if I should sue an ice cream company … as I am now convinced that they make their product to be intentionally addictive.
Back to AI … universities are having a bit of trouble deciding on AI use in learning and an article included below has some interesting statements which I will cite here.
One is that “graduates need AI fluency as employers are already asking for it … yet a university that never verifies what a student can do without AI risks certifying the output of a machine rather than the capability of a person.” It then goes on to say, “teaching them to avoid AI would prepare them for a world that no longer exists.”
No wonder Bill Gates feels (article below also) that we are ill-prepared for the upheaval AI will bring.
On a final note … and the last story below … you shouldn’t feel bad while jogging if some person speeds past you … fancy sneakers and all … as there is a claim that something surprisingly easy and less strenuous is better for your health.
“Super slow running.”
That’s right … going at a tremendous slow speed is much better off for you … and I am excited to read this …
… as I have decided to do this one better and even be slower than that …
… and remain standing still.
Have a great day,
Joseph G. Witthohn, CFA
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